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NZD/USD: Election result should provide support – ANZ

Analysts at ANZ suggest that election result should provide support to NZD/USD pair, but markets are likely to quickly revert to watching coalition developments.

Key Quotes

“Fiscal concessions will be watched as this could boost growth in 2018/19, but the NZ economy is also seeing some late cycle challenges as housing, migration and tourism all start to run out of puff. Beyond local developments, firmer inflation signals and the Fed ‘getting on with it’ are expected to support the USD.”

Support 0.7230 Resistance 0.7420”

Japan Leading Economic Index climbed from previous 105 to 105.2 in July

Japan Leading Economic Index climbed from previous 105 to 105.2 in July
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NZD/USD down 1% on NZ election jitters, 0.7250 tested

The Kiwi has entered a phase of downside consolidation, as we head into early European trading, with the bulls unlikely to find any respite sooner ami
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